Chartwell Investment Partners LLC Increases Holdings in ServiceNow, Inc. (NYSE:NOW)


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Chartwell Investment Partners LLC increased its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,014 shares of the information technology services provider’s stock after acquiring an additional 213 shares during the quarter. Chartwell Investment Partners LLC’s holdings in ServiceNow were worth $12,117,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Jacobi Capital Management LLC boosted its holdings in ServiceNow by 1,225.0% during the third quarter. Jacobi Capital Management LLC now owns 53 shares of the information technology services provider’s stock worth $26,000 after buying an additional 49 shares in the last quarter. Allworth Financial LP raised its stake in shares of ServiceNow by 372.7% during the fourth quarter. Allworth Financial LP now owns 52 shares of the information technology services provider’s stock worth $29,000 after buying an additional 41 shares during the last quarter. Prime Capital Investment Advisors LLC acquired a new position in shares of ServiceNow in the third quarter valued at approximately $31,000. Birchcreek Wealth Management LLC bought a new stake in ServiceNow during the fourth quarter worth $33,000. Finally, Clearview Wealth Advisors LLC bought a new stake in ServiceNow during the fourth quarter worth $34,000. Institutional investors own 87.20% of the company’s stock.

Several brokerages have recently weighed in on NOW. Royal Bank of Canada increased their price objective on shares of ServiceNow from $600.00 to $640.00 and gave the company an “outperform” rating in a research report on Thursday, January 28th. Argus increased their price objective on shares of ServiceNow from $600.00 to $640.00 and gave the stock a “buy” rating in a research note on Tuesday, February 2nd. KeyCorp started coverage on ServiceNow in a research note on Monday, November 23rd. They set an “overweight” rating and a $620.00 target price on the stock. Stifel Nicolaus upped their price target on ServiceNow from $500.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, October 26th. Finally, TheStreet lowered ServiceNow from a “b” rating to a “c+” rating in a report on Tuesday, January 19th. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $566.86.

In related news, insider Chirantan Jitendra Desai sold 916 shares of the company’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $591.82, for a total transaction of $542,107.12. Following the completion of the sale, the insider now directly owns 35,371 shares of the company’s stock, valued at approximately $20,933,265.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Fay Sien Goon sold 139 shares of the stock in a transaction dated Thursday, February 18th. The stock was sold at an average price of $572.37, for a total transaction of $79,559.43. Following the sale, the insider now owns 3,930 shares in the company, valued at approximately $2,249,414.10. The disclosure for this sale can be found here. Insiders have sold 87,312 shares of company stock worth $47,048,637 in the last quarter. Insiders own 1.00% of the company’s stock.

Shares of NOW opened at $550.26 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.64. ServiceNow, Inc. has a 12-month low of $238.93 and a 12-month high of $598.37. The business’s 50 day moving average is $551.34 and its 200 day moving average is $511.10. The company has a market capitalization of $107.91 billion, a PE ratio of 155.88, a price-to-earnings-growth ratio of 12.70 and a beta of 1.14.

ServiceNow (NYSE:NOW) last released its quarterly earnings results on Wednesday, January 27th. The information technology services provider reported $1.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.11. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. ServiceNow had a return on equity of 9.79% and a net margin of 16.60%. The business’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. Equities research analysts predict that ServiceNow, Inc. will post 1.11 earnings per share for the current year.

ServiceNow Profile

ServiceNow, Inc provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. The company offers information technology (IT) service management applications; and digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.

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Institutional Ownership by Quarter for ServiceNow (NYSE:NOW)

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